Even without a new high-tech “fix” for aging, the United Nations estimates that life expectancy over the next century will approach 100 years for women in the developed world and over 90 years for women in the developing world. (Men lag behind by three or four years.)-wrote David Duncan in FT
Some stuff I am reading today morning:
Wedding bells for gold (Go2CIO)
Chidambaram’s challenge (Openlib)
Property VAT:Aam Admi caught in tussle (FirstPost)
Osama Suzuki’s war crimes moment (WSJ)
China’s lost decade (Bespoke)
Why investing is the world’s most difficult profession (Standerfer)
The Mongolia of America (DailyReckoning)
Consider the stock price of this stock on NSE:
27 June 2012: 10.45
27 July 2012: 20.1
27 Aug 2012: 30.25
And the stock is (sound of drumroll): Ashapura Minechem
Now here is an interesting aspect to this whole jacking up of prices.
In these two months, the value of the total delivered shares on NSE is around 9.92 Crores.Now assuming BSE has the same volumes, the value of the delivered quantity on both the exchanges is approximately 20 Crores.
Now the market cap of the company has increased by 160 Crores in the interim.
So an investment of 20 Crores (actually a fraction of that much due to circular trading) can increase the market cap of your company by 160 Crores.
No wonder John Bogle said “We live in a world in which it is far easier to hype the price of a company’s stock than it is to build the intrinsic value of the corporation itself”
Its raining pretty heavily here in Mumbai.Reminded of one of my all time favs